How active is Private Equity / PE-Backed Roll-Up in physical therapy practice acquisitions?

10 disclosed private equity / pe-backed roll-up acquisitions of physical therapy practice businesses analyzed (10 from 2018+). Run the ExitValue.ai calculator to see what this buyer pool would pay for your specific business.

Who are the most active private equity / pe-backed roll-up buyers of physical therapy practice businesses?

Top recent acquirers by deal count: General Atlantic (2 deals), Knighthead Capital Management / Marathon Asset Management Consortium (1 deals), Knighthead Capital Management and Marathon Asset Management (1 deals), Welsh, Carson, Anderson & Stowe, L.P. (1 deals), Confluent Health (1 deals), HIG Capital (1 deals).

BUYER POOL ANALYSIS

Selling a physical therapy practice to Private Equity / PE-Backed Roll-Up buyers

Private equity firms and PE-backed platform consolidators acquiring for roll-up, add-on, or platform plays. Pricing tends to lead the market for fee-viable scale, with multi-bidder competitive processes above the EBITDA floor.

Quick answers

How many disclosed transactions?: 10 deals total (10 from 2018+), filtered to Private Equity / PE-Backed Roll-Up acquirers of physical therapy practice businesses.
Most active buyers: General Atlantic (2) · Knighthead Capital Management / Marathon Asset Management Consortium (1) · Knighthead Capital Management and Marathon Asset Management (1) · Welsh, Carson, Anderson & Stowe, L.P. (1) · Confluent Health (1) · HIG Capital (1)
What would this buyer pool pay for my business?: Run the ExitValue.ai calculator to see your physical therapy practice priced against the 10 disclosed private equity / pe-backed roll-up transactions in this segment. The engine surfaces the specific multiples that apply to your size, margin, and growth profile.

Recent disclosed deals

Private Equity / PE-Backed Roll-Up acquisitions of physical therapy practice businesses with named target and named acquirer.

Year	Target	Acquirer
2025	ATI Physical Therapy	Knighthead Capital Management / Marathon Asset Management Consortium
2025	ATI Physical Therapy, Inc.	Knighthead Capital Management and Marathon Asset Management
2025	Select Medical Holdings Corporation	Welsh, Carson, Anderson & Stowe, L.P.
2023	MOTION PT Group	Confluent Health
2022	PT Solutions	General Atlantic
2022	PT Solutions (Majority Stake)	General Atlantic

What this buyer pool prices for

Private equity acquirers price for scale and roll-up arbitrage. They pay up for businesses that fit a platform thesis - recurring revenue mix above 30%, technician/professional depth, clean financials, and a management layer that survives integration. A physical therapy practice that fits the platform thesis prices materially above what an individual buyer would pay because PE is buying a platform piece, not an owner-operated shop.

Methodology note

Deal flow shown reflects disclosed M&A transactions in the ExitValue.ai database, filtered to physical therapy practice businesses acquired by private equity / pe-backed roll-up buyers. Deal counts shown reflect deals with disclosed financials only - total transaction count for this buyer pool is typically 2-3x larger. The valuation engine reveals the specific multiples that apply to your business when you run the calculator above. Full methodology

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